New York Stock Exchange

Securities Exchange Act Creates SEC, Regulates Secondary Markets

1934-06-06 00:00:00 +0000 UTC | Importance: 9/10

President Franklin D. Roosevelt signs the Securities Exchange Act of 1934 into law on June 6, 1934, establishing the Securities and Exchange Commission (SEC) and comprehensive federal regulation of secondary securities trading (stocks, bonds, and debentures). FDR’s compromise approach attempts …

Franklin D. Roosevelt Joseph P. Kennedy Ferdinand Pecora Richard Whitney New York Stock Exchange +3 more financial-regulation new-deal sec-creation securities-law regulatory-victory +1 more

Panic of 1873: Railroad Speculation Triggers Economic Collapse

1873-09-18 00:00:00 +0000 UTC | Importance: 9/10

The banking firm Jay Cooke & Company collapses, triggering a devastating financial panic and economic depression lasting until 1879. Cooke’s firm, heavily invested in the Northern Pacific Railroad and backed by over 60 million acres of federal land grants used as collateral, becomes …

Jay Cooke & Company Northern Pacific Railroad New York Stock Exchange European Investors economic-crisis systematic-corruption corporate-welfare financial-manipulation